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$180m spent on scholarships and loans: TSLB

January 16, 2020 5:50 am

The Tertiary Scholarship Loans Board spends around $180m on scholarships and loans annually.

This is a massive increase from the $60m when the scheme started in 2014.

Chief executive Bobby Maharaj says each year, the TSLB provides scholarships and loans to around 8,000 students between January and February.

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“Of these of course 950 are taken on board by the National Toppers scholarship which means the remaining 7, 00 to 7, 300 students will benefit from TELS annually. Remember these are the new students. Collectively if you look at from 2014 until now – we have funded closer to 39, 000 students. So that is a huge number and TELS number would definitely be above 30, 000.”

Education Minister Rosy Akbar is urging students to be honest when applying for scholarships.

“I think what I have heard from Mr Maharaj the TSLB CEO, yes there are cases that have been identified and I’ve also been told that many students end up losing the scholarship should they be found to be abusing it. Because I am sure there are a lot of deserving students out there who miss out on this.”

The TSLB has recorded a good completion rate from students since its inception in 2014.

The initiative rolled out in the 2017/2018 National Budget where students can switch programs within the first year has assisted many students.

 

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